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Execution of an agreement for crude oil supplies between Grupa LOTOS S.A. and Petraco Oil Company Ltd.
Report no. 33/20112011-11-09

The Management Board of Grupa LOTOS SA hereby reports that as a result of concluding on November 8th 2011 the agreement for the REBCO crude oil supply to Grupa LOTOS S.A. by Petraco Oil Company Ltd, of Guernsey in November 2011, the total value of the agreements concluded between the above mentioned parties in the period since publication of the last current report (current report No. 26/2011 of  August 22nd  2011) is about USD 197.48m (ie PLN 625.64m, translated at USD the mid-exchange rate quoted by the National Bank of Poland for on the day the agreement signing) and thus reaches the value of a significant agreement, exceeding 10% of the equity of Grupa LOTOS S.A.

In terms of value, the largest of these agreements is the agreement of September 2nd  2011 on the supply of REBCO crude, of which estimated value is USD 81,80m (i.e. PLN 239,49m translated at the USD mid-exchange rate quoted by the National Bank of Poland for September 2nd  2011).


The agreement does not include any condition precedent or specify any date of events giving rise to a claim (dies a quo), it does not provide for any contractual penalties and its terms and conditions do not differ from the terms and conditions commonly used in agreements of such type

The legal basis for the publication of this Current Report is Par. 5.1.3 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009.